Beauty of South East Asian Style Design Award 2010
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I see Hainan real estate it a big bubble. I live in Hainan for a year lot of building 70% vacancy no body live inside specifically at night the building look very dark and they decorate lot of neon light to look attractive at night. real estate prize has been shot up very high. it will collapse very soon every building are empty.
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Unlikely big bubble in China as 80% buyers used their hard earn cash to buy property, very few applied for mortgage, either they can't buy the high prices or buy with cash. I think more likely the fast growth causes inflation. China Government more concerns of inflation than bubbles as the bubble effect is smaller. Americans and Japanese were jealous of China's growth so why every time reported big bubble likely every year which I can't see any after each annual forecast by them.
sgi316 7 months ago
I also lived there more than one year, as what you mentioned, I experienced the same emptiness in Sanya, but these were units bought by buyers who couldn't rent out as the rental market of Hainan very small, these buyers let them empty but in times to come they will sell off to make a profit. Please do not use Western eyes to look at China which I find is totally different from the Western World, though they are upgrading their economy and society to compete with the Western World.
sgi316 7 months ago